secwatch.observer — SEC 8-K summary
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Issuer:     Aon plc (AON)
CIK:        0000315293
Form:       8-K
Filed at:   2026-09-22T10:30:50+00:00
Accession:  0001193125-26-397203
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Aon arranges $4B term loans to fund USI acquisition; new $3B revolver replaces two prior facilities
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- $4B unsecured delayed draw term loans ($2B each tranche), maturing Sept 18, 2028 and Sept 18, 2029, fund portion of USI Advantage Corp. acquisition cash consideration.
- New $3B multi-currency revolving credit facility matures Sept 18, 2031, replaces two $1B revolvers (maturing 2027 and 2028) terminated effective Sept 18, 2026.
- Financial covenants: EBITDA/interest expense ratio not below 4.00:1; funded net debt/EBITDA not above 4.75:1 post-USI, stepping down to 3.50:1 over eight fiscal quarters.
- Borrower is Aon North America, Inc.; guaranteed by Aon plc, Aon Corporation, Aon Global Holdings plc, and Aon Global Limited.
- Rate margins based on Aon's senior unsecured long-term debt rating; loans prepayable at any time without penalty or premium.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/315293/000119312526397203/0001193125-26-397203-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/315293/000119312526397203/d38875d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-397203

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